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Iberia outlines ambitious €6 billion investment plan for fleet expansion

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Iberia outlines ambitious €6 billion investment plan for fleet expansion
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Iberia Airline | Simple Flying

Iberia, the Spanish airline under the International Airlines Group (IAG), has announced plans for significant expansion in its long-haul network. The company is considering an investment of up to €6 billion ($6.9 billion) over the coming years, focusing on new aircraft acquisitions and route expansions.

The planned investments will see Iberia's long-haul fleet grow from 45 to 70 aircraft, including models like the Airbus A321XLR, A330-900, and A350-900. This expansion aligns with Iberia's strategic '2030 Flight Plan,' which aims for annual profitability between 13.5% and 15%, supporting their investment goals.

Marco Sansavini, President and CEO of Iberia, emphasized the company's growth ambitions: “Thanks to Iberia’s profound transformation over the last decade and the efforts of all our people, we are now delivering results that allow us to look to the future with confidence and invest €6 billion in our Flight Plan 2030.”

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Iberia's expansion includes potential new routes across North America. The airline has hinted at adding destinations in Canada, Mexico, and the United States as part of its transatlantic growth strategy. Three new destinations have been confirmed: Monterrey International Airport (MTY), Philadelphia International Airport (PHL), and Toronto Pearson International Airport (YYZ).

Currently operating flights from Madrid Barajas Airport to several North American cities such as Chicago O’Hare International Airport (ORD) and Los Angeles International Airport (LAX), Iberia plans further increases in frequency on existing routes.

Data from Cirium’s Diio Mi indicates a steady increase in weekly departures from Madrid to North America since June 2019. In June alone, Iberia scheduled 102 weekly departures offering a total of 30,839 seats.

Despite geopolitical challenges affecting transatlantic travel demand, Luis Gallego, CEO of IAG noted during a recent earnings call that booking levels remain strong compared to previous years.

With these developments underway, Iberia is positioning itself as a key player in enhancing Spain’s global connectivity through strategic investments in fleet growth and route expansion.

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